Gift arranged in advance around the start of November (7)
I believe the answer is:
present
'gift' is the definition.
('present' can be a synonym of 'gift')
'arranged in advance around the start of november' is the wordplay.
'arranged in advance' becomes 'preset' (I've seen this before).
'around' is an insertion indicator.
'the start of' says to take the initial letters.
The first letter of 'november' is 'n'.
'preset' going around 'n' is 'PRESENT'.
(Other definitions for present that I've seen before include "Exhibit" , "Gift; time now; here" , "It is given" , "A Christmas gift" , "in a particular place" .)